Guideline Value for Thillai Ganga Nagar 8th Street

Thillai Ganga Nagar 8th Street guideline value

The current guideline value of Thillai Ganga Nagar 8th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Thillai Ganga Nagar 8th Street has changed

The guideline value for Thillai Ganga Nagar 8th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value then decreased to Rs 2,345 per sq.ft in 2017. The following revision in 2023 raised the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 3,900 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, followed by an 11% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 212%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with the median value being Rs 3,900 per sq.ft. Thillai Ganga Nagar 8th Street's 2024 figure matches this median value.

• Thillai Ganga Nagar 9th street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar First Main Road: Rs 5,000 per sq.ft (2024)
• Thillai Ganga Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 5th Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total costs together to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Ganga Nagar 8th Street?

The Thillai Ganga Nagar 8th Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Palavanthangal

The guideline value is a crucial factor during the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a value recognized by the government, which is essential for legal documentation and taxation purposes.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 8th Street?

The current guideline value of Thillai Ganga Nagar 8th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 212% over the years.

What are the stamp duty rates for properties in Thillai Ganga Nagar 8th Street?

The stamp duty for properties in Thillai Ganga Nagar 8th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Thillai Ganga Nagar 8th Street?

The Alandur Sub Registrar Office handles registrations for Thillai Ganga Nagar 8th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Thillai Ganga Nagar 8th Street?

Thillai Ganga Nagar 8th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.